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Hoarding is exactly what the government is doing right now by filling the SPR, and frankly it's the best thing that could happen. It drives prices up. High prices encourage demand destruction. They also finance new well development. The hoarded oil gives us a buffer to fall back on once shortages become more prevalent. High prices are what we need in order to adapt to what's coming, and the sooner they happen, the better.

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[Canadian] East coast oil dream runs dry
Public Policy; Political and Legal Newsmuhandis writes: "Nova Scotia's struggling offshore energy sector suffered a potential death blow yesterday with the closure of the only remaining well slated to be drilled by a major oil company..."

Canada National Post
Posted on Friday, August 27 @ 09:15:32 PDT by admin
 
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Most read story about Public Policy; Political and Legal News:
ARE We Out of Gas Yet?
 
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